【1 月 20 日,广发称中国国航 24 年全年业绩减亏,周期上行待绽放】24 年民航需求恢复,各航司以量换价提周转率,行业需求端增速快,国航全年旅客运输量同比增 21%至 1.55 亿人次。中国国航作为国内唯一载旗航司,有一二线高质量客群,局方强调“价格监管”,25 年票价有望低基数增长,业绩弹性可期。24 年因下行及行业“内卷”降价,票价同比大幅下行,Q4 汇率贬值,广发下调公司业绩预测,参考...
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